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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (65617)	8/21/2010 11:28:32 AM
From: Joseph Silent	2 Recommendations Read Replies (1) \| Respond to of 218043

Would appreciate your comments on linked CHS article, TJ, when you have a chance to type. Wish you the very best on the difficult ordeal in the meanwhile. Among other things, Charles Hugh Smith (there has to be some meaningful psychology behind the need for three names) says: I think people in China, for obvious reasons, don't often think long term. People are more worried about things that may happen tomorrow or in the next two or three years, than they are about what may happen in 50 years. But at some stage in the future, people will start to think more about the long term. From what I know of the East, he cannot be more wrong. In the East, if people are not thinking and saving for the long term (children and grandchildren) they are not thinking or not from the East. Indeed, that is why CHS can even make the statement "risks of serious losses for Chinese savers and investors, many of whom have relied on the savings of three generations to buy investment homes." Are they more worried than Biff from New Brunswick about tomorrow or next week? Yes, because their weak civil and social infrastructure likely gives them cause to be. What will happen in a crisis involving food supply? Who will help? Their experience and memory of such is more vivid than Biff's. On the other hand I can imagine what will happen if there is complete disruption of energy- or food-supply in NJ. Likely chaos that China is probably more used to, because of our (trained) dependence on such. Biff's worries are almost always short-term --- friday-night date, next new gadjet, new car payment, next vacation, next ball-game tickets, trip to vegas etc; one just has to hope the credit-card industry does not succeed in creating that monster in the East, but it may be too late. Biff counts on a social-security check one day; Raj and Renshu can't be expecting one, and so they save. Corruption and absence of leadership/stewardship is a (huge) problem of both East and West, though to my limited experience, the sheep in the West seem to be less suspicious of such, and the deeds are done at higher levels and on much, much grander scales than anywhere else. In America, nothing is worthwhile unless it is BIG ..... so much so that even jiggly women who could make sumo wrestlers do fearful, award-winning sprints have become the Nation's "big beautiful women." White pastry flour with sugar has to be Nabisco's competitive response to cheap gas and the Lincoln Town car. :) businessinsider.com